Brazil, Russia, India, and China start discussing removing US dollar as the world benchmark currency
Sagar Malhotra
Jun. 17, 2009

It is a complex issue, says Indian Prime Minister Manmohan Singh. But the discussion has started, as America is no longer seen as the benchmark of top rated credit.

Prime Minister Manmohan Singh today said the first summit meeting of the BRIC countries discussed the US dollar as the leading international reserve currency, but it was not an easy issue.

Speaking to reporters accompanying him back from the meeting in Yekaterinburg, Russia, Singh said: “The currency was discussed. But it is a complex issue. Which are those currencies (which can be the alternative to the dollar)?” The finance ministers of the four BRIC countries — Brazil, Russia, India, and China — will hold discussions to take the matter forward.

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